Head of Reinsurance Law - General Counsel
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The Specialty Operations Law Practice Group within the Company's Department of Law & Regulation consists of approximately four attorneys and other professionals who provide legal services to the Company regarding ceded and assumed reinsurance business.
- Working with the Company's Risk Management Department to structure, negotiate, draft and, where applicable, publicly report reinsurance placements, including associated funding agreements, for reinsurance contracts including contracts:
- comprising Allstate's property and casualty catastrophe reinsurance program, whether placed in the traditional or insurance linked securities market;
- covering risks underwritten by the Company's Emerging Business Department, which includes insurance for small to medium size businesses, excess and surplus lines insurance, and contractual liability insurance for service warranty providers;
- utilized in the Company's mergers and acquisitions and policy portfolio transactions;
- placed internally between affiliates.
- Counseling the Company's Specialty Operations Division, which is charged with administering discontinued lines of business, by:
- advising on coverage afforded by domestic and international reinsurance agreements, both current and in runoff, assessing coverage for environmental claims on primary policies, and securing coverage for claims covered under government-sponsored indemnification vehicles;
- providing guidance on third party insurance and reinsurance insolvencies and corporate restructuring initiatives, including domestic and international liquidations, schemes of arrangement and portfolio transfers;
- initiating and supervising the dispute resolution process applicable to reinsurance contracts, including arbitrations and litigation.
- Supporting the Government & Industry Relations Group with respect to legislative efforts – state, federal and international – impacting insurance insolvency and reinsurance.
- Provide legal advice to and strategize with the Company's senior management regarding structuring, placing, negotiating and administering the Company's assumed and ceded reinsurance arrangements.
- Oversee the arbitration and litigation of disputes involving reinsurance.
- Structure, negotiate and draft highly complex reinsurance transactions taking into account applicable regulatory, reporting, and accounting issues.
- Manage a team of professionals by: ensuring business objectives are communicated, understood and met; assign and monitor work; transfer subject matter knowledge to less experienced team members; and utilize performance management to mentor and reward team members.
- Possesses a juris doctorate and a license to practice law in Illinois (and/or other states as required).
- 12+ years related experience within a reputable law firm or an in-house legal department for a mid- to large-sized insurance or reinsurance organization.
- Ability to leverage insurance and reinsurance industry contacts.
- Experience in managing legal teams a plus, including responsbility for coaching, developing and motivating team members.
- Project management skills a plus, including budgeting and managing internal and external resources
The candidate(s) offered this position will be required to submit to a background investigation, which includes a drug screen.
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As a Fortune 100 company and industry leader, we provide a competitive salary – but that's just the beginning. Our Total Rewards package also offers benefits like tuition assistance, medical and dental insurance, as well as a robust pension and 401(k). Plus, you'll have access to a wide variety of programs to help you balance your work and personal life -- including a generous paid time off policy.
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Allstate generally does not sponsor individuals for employment-based visas for this position.
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